Diversified property group Stockland
(ASX:SGP) has announced a strategic capital partnership in its residential portfolio, with Capital Property Group.
They will be investing a 50 per cent interest in Stockland’s largest masterplanned community, Aura on the Sunshine Coast, at around 30 per cent premium to book value.
Capital Property Group developed and owns Canberra Airport, and has a residential development in Canberra called Denman Prospect, as well as a mixed use project underway in Canberra’s CBD, Constitution Place.
Shares in Stockland
(ASX:SGP) closed 2.36 per cent higher at $4.34 yesterday.
